Use the Table Below to Answer the Following Question(s)

question 4

Multiple Choice

Use the table below to answer the following question(s) .
Below is a spreadsheet for Stone Age Surfboards.

Assume that the finishing time for a pair of Rockwell surfboards is triangular with a minimum value of 1.4, a most likely value of 1.5, and a maximum value of 1.8 and that finishing time for a pair of Limestone surfboards is also triangular with a minimum value of 1.8, a most likely value of 2.0, and a maximum value of 2.4.The number of trials per simulation is equal to 5000.
-What is the value of mean obtained from the simulation results?

• A)15.65
• B)25.91
• C)20.78
• D)30.42

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Definitions:

Variable Costs

Variable costs are expenses that vary directly with the level of production or output, such as materials and labor used in the manufacturing process.

Fixed Costs

Expenses that do not change with the level of output or sales, such as rent, salaries, and insurance premiums.

Long Run

The Long Run is a period in economics during which all factors of production and costs are variable, allowing for adjustment to changing market conditions.

Fixed Amount

A specific, unchanging quantity of something.